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New Deal


Announced

Swiss Re and Daimler to form Movinx.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Single Bidder

reinsurance brokerage

Friendly

Majority

Merger

Germany

Domestic

Pending

Reinsurance

Private

Joint Venture

Synopsis

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Insurance brokerage firms Swiss Re and Daimler Insurance Services to form Movinx, a reinsurance firm. Financial terms were not disclosed. ”By joining forces with Swiss Re we can lead transformation in an evolving market environment and advance insurance business. We will establish a new business model as well as co-create and co-own an insurance platform. This platform enables easy and efficient insurance purchase and customer-centric services by using real time data. Furthermore, we as Daimler Insurance Services are going deeper into the value chain of insurance business, having more influence on product development and pricing," Ingo Telschow, Daimler Insurance CEO.

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